Trader, analyst and instructor with a 6-year experience

CityFX sells GBP/USD

Today’s price action on GBP suggests additional weakness remains likely. However, it should be confirmed with decisive breaks through key support/resistance levels, CityFX strategists forecast. 

Solid support for the cable lies in the $1.6661-$1.6693 area. This is the converging May low and the 200-day MA. A clear break below will open the way to $1.6440-$1.6460 and potentially to $1.6300.

Chart. Daily GBP/USD


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